About Progcap
Progcap is a Financial Services company based in Delhi (India) founded in 2017 by Himanshu Chandra and Pallavi Shrivastava. Provider of financial and technology products for small and medium businesses. Progcap has raised $111.32 million across 10 funding rounds from investors including Google, AXIS Capital and The World Bank. Progcap was last valued at $600 million in November 2023. Its Indian entity Desiderata Impact Ventures Private Limited reported revenue of ₹278 Cr. Progcap offers products and services including Progcap App and TALLY Integration. Its focus areas include FinTech, Alternative Lending, Online Lenders and Business Loans. Its competitors include Krab, financejunction and CapitalWorkz; 1 of its 3 listed competitors has raised funding.
Company details
Progcap was established in 2017 in Delhi, India, as a provider of financial and technology solutions targeted at small and medium enterprises. Supply chains are digitized to enable finance access for last-mile retailers. Credit facilities, payment processing, and business management tools are offered to support customer operations within the fintech sector.
- Headquarters Delhi, India
- Founders Himanshu Chandra, Pallavi Shrivastava
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website progcap.com
- Social LinkedIn X Facebook YouTube
- Legal Name Desiderata Impact Ventures Private Limited
- Date of Incorporation 16 Jan, 2017
- Jurisdiction New Delhi, Delhi, India
- Annual Revenue₹278 Cr
FY 2025 · +75% YoY
- Net Loss-₹5.87 Cr
FY 2025 · -2% margin
- EBITDA₹93.91 Cr
FY 2025 · 34% margin
- Total Equity Funding$111.32M (USD)
in 10 rounds
- Latest Funding Round$132.13K (USD), Series C
Nov 2023
- InvestorsGoogle
& 27 more
Associated legal entities of Progcap
Progcap is associated with 3 registered companies on The Company Check; the primary company is Desiderata Impact Ventures Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Desiderata Impact Ventures Private Limited CIN U74999DL2017PTC310632 | Active | 16 Jan 2017 | New Delhi, Delhi | ₹278 Cr | 92 | 5 | View details |
| Progcash Finance Services Private Limited CIN U65990DL2021PTC382979 | Under Process Of Striking Off | 30 Jun 2021 | Delhi, Delhi | 3 | View details | ||
| Progcap Financial Services Private Limited CIN U74110DL2019PTC350878 | Active | 03 Jun 2019 | New Delhi, Delhi | ₹0.1 Cr | 3 | View details |
Products & Services of Progcap
Progcap offers a comprehensive portfolio of products and services, including Progcap App and TALLY Integration.
Mobile app for SMBs to manage credit and payments
Tool for integrating accounting with financial services
Apps and channels of Progcap
Progcap publishes 2 mobile apps with over 20K+ downloads; its YouTube channel Progcap has 403 subscribers and 19 videos.
Videos from Progcap
The most watched videos on Progcap's YouTube channel, Progcap (403 subscribers). Click a video to play it here.
More on Progcap.
Funding Insights of Progcap
Progcap has successfully raised a total of $111.32M across 10 strategic funding rounds. The most recent funding activity was a Series C round of $132.13 thousand completed in November 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $111.32M
- Total Rounds 10
- Last Round Series C — $132,127
- First Round $298,076
(Aug 2018)
- Investors Count 28
All 10 funding rounds of Progcap with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov 2023 | $132,127 | Series C | $600M | Stride Ventures | – |
| Jan 2023 | Debt – Conventional | – | – | ||
| Jun 2022 | $50M | Series C | $584.18M | Creation Investments, Tiger Global Management | |
| Sep 2021 | $30M | Series C | $••••• | Tiger Global Management, Creation Investments | |
| Jun 2021 | $25M | Series B | $••••• | Tiger Global Management, Sequoia Capital | |
| Jan 2021 | $143,074 | Series A | $••••• | Stride Ventures | – |
| Jan 2021 | $1.36M | Debt – Conventional | – | – | |
| Apr 2019 | $5.75M | Series A | – | Peak XV Partners, Sequoia Capital | |
| Nov 2018 | Grant | – | – | ||
| Aug 2018 | $298,076 | Seed | $••••• | Growx |
| Date | Valuation | Stage |
|---|---|---|
| Nov 2023 | $600M | •••••••• |
| Jun 2022 | $584.18M | •••••••• |
| Sep 2021 | $••••• | •••••••• |
| Jun 2021 | $••••• | •••••••• |
| Jan 2021 | $••••• | •••••••• |
| Apr 2019 | $••••• | •••••••• |
| Aug 2018 | $••••• | •••••••• |
Full valuation and stage history of Progcap
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $600M (Nov 2023). 28 investors in total: 17 institutional and 11 angel.
Investors in Progcap
Progcap has secured backing from 28 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Google, AXIS Capital and The World Bank.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture debt is provided to growth-stage companies for business scaling. | strideventures.global | Delhi, India | ||
Impact investing in emerging markets through private equity and credit services. | 2007 | creationinvestments.com | Chicago, United States | |
Venture and private equity investments are managed with global diversification. | tigerglobal.com | New York, United States | ||
Fintech fund investing in growth-stage companies merging financial services and technology in India. | 2021 | beams.vc | Mumbai, India | |
Startup accelerator | 2016 | znationlab.com | Cupertino, United States | |
Venture capital firm investing in startups and providing support programs. | 2000 | peakxv.com | Bengaluru, India | |
Sequoia Capital is engaged in venture capital investments. | 1972 | sequoiacap.com | ||
Investment support is provided to startups by Whiteboard Capital. | 2017 | whiteboardcap.com | Mumbai, India | |
Early-stage VC fund | 2013 | contrariandrishti.com | Mumbai, India | |
Seed & early stage focused VC firm investing in the US, India & China | axis-cap.com | Hong Kong, China |
Investor details for Progcap
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Desiderata Impact Ventures Private Limited (Progcap)
Desiderata Impact Ventures Private Limited is the primary company behind Progcap. The boards of the 3 registered companies of Progcap currently have 5 directors; the longest-serving is Himanshu Chandra, appointed in 2017. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Himanshu Chandra DIN 07315578 | Whole-time director | 16 Jan 2017 | 9 yrs 9 mo | Desiderata Impact Ventures Private Limited, Progcap Financial Services Private Limited, Progcash Finance Services Private Limited |
| Pallavi Shrivastava DIN 07677898 | Whole-time director | 16 Jan 2017 | 9 yrs 9 mo | Desiderata Impact Ventures Private Limited, Progcap Financial Services Private Limited, Progcash Finance Services Private Limited |
| Manu Rikhye DIN 02012844 | Nominee Director | 06 Nov 2018 | 7 yrs 11 mo | Desiderata Impact Ventures Private Limited, Progcap Financial Services Private Limited, Progcash Finance Services Private Limited |
| Ashish Agrawal DIN 03295209 | Nominee Director | 08 Mar 2024 | 2 yrs 7 mo | Desiderata Impact Ventures Private Limited |
| Remika Agarwal DIN 09438221 | Nominee Director | 25 Aug 2025 | 1 yr 2 mo | Desiderata Impact Ventures Private Limited |
People of Progcap
19 people are tracked at Progcap (8 in leadership, 6 in board & advisors, 5 in team).
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership | |
Monika . | Senior Product Manager-founder’s Office | Leadership |
Rohit Garg | Head Of Technology And Product | Leadership |
Abhishek Lall | Chief Business Officer | Leadership |
Ashish Gupta | CTO & CPO | Leadership |
Rahul Chaplot | VP Of Products | Leadership |
Adrian Browne | Vice President Of Product | Leadership |
Tyler Day | Advisor | Board & advisors |
| Advisor | Board & advisors | |
| Advisor | Board & advisors | |
Amit Jain | Advisor | Board & advisors |
Preetie Kohli | Advisor | Board & advisors |
Alex Cook | Advisor | Board & advisors |
Tarun Chauhan | AVP - Technology | Team |
Tarun Goyal | Senior Manager Analytics | Team |
Mahiboob Nadaf | Sales Manager | Team |
Abhinav Jha | Assistant Product Manager | Team |
Vivek Pal | Senior Devops Manager | Team |
Complete people profiles for Progcap
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Progcap
Figures of Desiderata Impact Ventures Private Limited, the primary company behind Progcap, for FY 2025. Revenue was ₹278 Cr (+75% year on year). Net loss was -₹5.87 Cr (-2% margin). EBITDA was ₹93.91 Cr (34% margin). Revenue has grown at a compounded annual rate of +94% over three years and +182% over five years.
- ₹278 CrRevenue · FY 2025 · +75% YoY
- -₹5.87 CrNet loss · -2% margin
- ₹93.91 CrEBITDA · 34% margin
- ₹1.3 LakhPaid-up capital
- 92Employees (provident fund records)
- +94%Revenue CAGR, 3 years
- +182%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Desiderata Impact Ventures Private Limited are on its company page.
Detailed financial statements for Progcap
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Progcap
4 dated milestones of Progcap across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Progcap is founded.
- Funding First funding round of $298K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series C, of $132K.
Competitors of Progcap
Progcap has 3 listed competitors in our database, 1 of them funded. They include Krab, financejunction and CapitalWorkz.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| krab.in | 2020 | Hyderabad, India | $125,000 | 2 | Provider of transportation management software | |
| financejunction.in | 2007 | Kolkata, India | 1,075 | Supply chain financing solutions are offered online to sales networks. | ||
| capitalworkz.com | 2018 | Delhi, India | Operates an online platform for business loans. |
Detailed competitors of Progcap
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Progcap
The website of Progcap (progcap.com) receives about 5.6K visits a month.
- Monthly visits5.6K
▼ 44.2% vs previous month
Top companies in Alternative Lending
3 companies that operate in the same segment as Progcap (Alternative Lending) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 589.25 M | USD 179.52 M | 3,670 | |
Technology platform for real estate transactions and mortgages is provided. | 2014 | Gurugram, Haryana, India | USD 97.98 M | USD 28.9 M | 9,619 | |
Financial services are provided, specializing in personal and business loans. | 2016 | Mumbai, Maharashtra, India | USD 320.39 M | USD 106.45 M | 2,161 |
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Related news about Progcap
Complete news archive for Progcap
Full article history, source details, and older brand coverage require an active premium plan.
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- Brand-specific news history
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Frequently Asked Questions about Progcap
Progcap was founded in 2017 and raised its 1st funding round 1 year after it was founded.
Progcap is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Progcap is a funded company, having raised a total of $111.32M across 10 funding rounds to date. The company's 1st funding round was a Seed of $298.08K, raised on Aug 2018.
The primary company behind Progcap, Desiderata Impact Ventures Private Limited, reported revenue of ₹278 Cr for FY 2025, up 75% year on year.
Progcap was established in 2017 in Delhi, India, as a provider of financial and technology solutions targeted at small and medium enterprises. Supply chains are digitized to enable finance access for last-mile retailers. Credit facilities, payment processing, and business management tools are offered to support customer operations within the fintech sector.
Progcap's top competitors include financejunction, Krab and CapitalWorkz.
Progcap offers Progcap App and TALLY Integration.
Progcap has 28 investors. Key investors include Google, AXIS Capital, The World Bank, Peak XV Partners, and Z Nation Lab.
The valuation of Progcap is $600M as of Nov 2023.
Progcap is associated with 3 legal entities: Desiderata Impact Ventures Private Limited, Progcap Financial Services Private Limited, Progcash Finance Services Private Limited.
The legal entities of Progcap currently have 5 directors, including Ashish Agrawal, Himanshu Chandra, Manu Rikhye and others.
Yes. Progcap publishes Progfin and 1 more app, with over 20,000 downloads.